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Much has been happening in the world these days. Most Americans are not thinking Taxes, but IF you’re do a refund, why let the IRS hold it, file now and get what’s coming to you!! If you think you owe money, still file now, for benefit of the Stimulus payments that will be going out soon. You can always extend the payment date if funds are low to July. But don’t let your taxes linger, get’em done now is the best advice I can give to you.
I pray that you and your families are staying safe and practicing the Social Distancing precautions as set forth by the State and Federal Government.
Here is copy of a letter I received that may answer some questions on the awaited Stimulus checks.
If you have a parent or someone in the household who is required to file, (not a dependent child) because of the income limitations needed to file, to receive this check according to the IRS it’s imperative that they do file to be counted for the Stimulus payment, as you will read in article in the “News & Info” tab titles “IRS Answers Some Questions on Stimulus Payments”..
IRS Changes Mind on SS & RR Recipients Having to File a Return to Receive Stimulus Payments
Our last email on the Stimulus checks was titled IRS Answers Some Questions on Stimulus Payments. It included a copy of an IRS Press Release from irs.gov, last reviewed/updated March 31, 2020. IRS has already updated the Press Release and changed the info, so again we suggest you go to irs.gov, click on “Get Coronavirus Tax Relief” and then on “Economic Impact Payment: What You Need to Know” to get the latest.
Today the updated posting states taxpayers who don’t have to file an income tax return but are collecting Social Security or Railroad Retirement benefits will NOT be required to take any action in order to receive the stimulus payments. We suggest checking the IRS web information on a daily basis so you are kept informed of anything new regarding the payments.